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MongoliaBudget
The Ministry of Finance prepared annual national budgets and
provided guidance to the formulation of local budgets. The
national budget included the budget of the central government,
the budgets of aymag and city governments, and the budget
of the national social insurance fund. The national budget grew
with the expansion of the economy: In 1940 revenues were 123.9
million tugriks (for value of the
tugrik--see Glossary) and
expenditures, 122.1 million tugriks; in 1985 revenues were 5,743
million tugriks and expenditures, 5,692.5 million tugriks. The
structure of the national budget changed between 1940 and 1985.
In 1940 some 34.6 percent of revenues came from the turnover tax
(a value added tax on each transaction), 7.8 percent from
deductions from profits, 16.7 percent from taxes on the
population, and 40.9 percent from other kinds of income. In 1985
nearly 63 percent of revenues came from the turnover tax, 29.9
percent from deductions from profits, 3.5 percent from deductions
from the social insurance fund, 0.7 percent from taxes on the
population, and 3.2 percent from other types of income. In 1940
some 21.9 percent of expenditures went to develop the national
economy; 19.7 percent to social and cultural programs; and 58.4
percent to defense, state administration, reserves, and other
expenses. In 1985 about 42.6 percent of expenditures went to
developing the national economy; 38.7 percent to social and
cultural programs; and 18.7 percent to defense, state
administration, reserves, and other expenses. The proposed 1989
budget had revenues and expenditures of 6.97 billion tugriks.
Proposed expenditures for 1989 included 1.8 billion tugriks for
developing agriculture, 2.1 billion for industry, and 1.6 billion
for capital investment. Of the 2.76 billion tugriks proposed for
social and cultural development, 1.16 billion was to go for
education; 597.5 million for health, physical culture, and
sports; 259.7 million for science, culture, and art; and 747.4
million for the social insurance fund. Subsidies to maintain
stable retail prices totaled 213 million tugriks. Local budgets,
through which 70 percent of social and cultural expenditures were
funneled, totaled 3.46 billion tugriks.
Data as of June 1989
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